Why is living in Japan so cheap?

Japan stands out as the cheapest country in the developed world due to its unique economic circumstances. Over the past decade, the nation has experienced minimal inflation, which is a rare occurrence in the global economic landscape. In contrast, prices in other developed countries have soared, making them significantly more expensive to live in.

One of the primary reasons for Japan's lack of inflation is its aging population and deflationary pressures. With a shrinking workforce and a high proportion of retirees, demand for goods and services has remained relatively subdued. This has led to low wage growth and limited price increases, creating an environment where consumers have more purchasing power.

Furthermore, the recent depreciation of the yen has made Japan even more attractive for tourists and foreign investors. As the yen has fallen in value against other major currencies, it now goes further in Japan, allowing visitors to enjoy more for their money. This has contributed to a surge in tourism, as people from around the world take advantage of the favorable exchange rates.

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